McGowan, 55, held a snap press conference on Monday where he confirmed his intention to step down as premier, treasurer and the member for Rockingham.

“This week will be my final week,” he said.

“I’ve loved the challenge of solving problems, making decisions, getting outcomes, and helping people.

“But the truth is, I’m tired – extremely tired. In fact, I’m exhausted.”

The premier made the announcement flanked by his wife, Sarah, and members of his ministry.

McGowan said he had been contemplating stepping down “for quite a while” but had wanted to first hand down the state budget.

He said the role of political leadership was relentless and the COVID-19 years had taken it out of him and he had no immediate plans beyond taking a break.

“I’m convinced WA Labor can win and will win the next election in 2025,” McGowan said.

“But I just don’t have the energy or drive that is required to continue in the role as premier or to fight that election, which would have been my eighth election as a member of parliament.”

The former Navy lawyer, who shepherded WA through the pandemic, copping criticism for border closures.

The premier, who fought a bruising defamation battle with billionaire Clive Palmer and picked fights with rival politicians over the state’s GST revenue share and even Australia’s relationship with China, said he left with no regrets.

Prime Minister Anthony Albanese said he had spoken to McGowan earlier on Monday to congratulate him.

Albanese said the premier would leave his office as he led, on his own terms and as his own man.

“He has been a great premier of his proud state, an extraordinary leader for WA Labor and a trusted friend,” he said.

“Above all, Mark will be remembered for seeing the people of Western Australian safely through one of the most challenging crises in our nation’s history.

“In unprecedented times, Mark always held to his convictions and always sought to do the right thing by his state.”

The premier led Labor to crushing election victories in 2017 and 2021, the latter securing his party the biggest parliamentary majority in the state’s history and reducing the opposition to just a handful of seats.

McGowan had previously insisted he would serve out the remainder of his second term as premier before considering his future.

Before clinching election victories the premier spent years in opposition.

He said it had been an honour and privilege to serve the WA community as premier and as an MP for almost 30 years.

“It’s way beyond what I could ever have imagined my career would amount to,” he said.

Deputy Premier Roger Cook, Health Minister Amber-Jade Sanderson and Transport Minister Rita Saffioti are among the frontrunners to succeed McGowan.

Recent criticism over the state’s handling of youth detainees at the Banksia Hill detention centre had not influenced his decision, he said.

“There’s always things you think you could do better … I try not to dwell,” he said.

McGowan said he hoped to be remembered as an achiever and for making the state stronger and better.

-AAP